Trading software

Sunday, April 26, 2015

Living dangerously (part 3)

It's been a while since I updated progress on my 'Living Dangerously' strategy where I lay high priced horses in the place markets based on my ratings.

It took a bit of a nosedive but has recovered and is currently showing a profit of €672.46 to a €2 fixed lay stake.

The stats are:

Stake: €2

Bets: 1511

Unsuccessful bets:32

Strike rate: 97.88%

Total profit: €674.17

The chart:

Overall I'm quite happy with it and the profit of nearly 700 quid is nice to have although I've resisted the urge to up the stakes, especially since I went through a bad patch. It got off to a flyer and it's interesting to see it on a chart because had I started doing this at the beginning of the bad patch where it lost 200 quid, it's possible that I might have scrapped it. That's why it's important to let the data build and not to get too excited by a good start, or too downbeat about a poor run.

I might raise the stakes to €3 if or when I hit €1,000 profit. It's a slow burner but I'm happy to let it run in the background. A grand is the medium term target - it would be nice to reach that figure by the end of June but you can't really plan like that as a few losing bets in-a-row knocks you back quickly as you can see from the chart. I'll report back again soon on progress.

Wayne

Wayne Bailey's book 'Sports Trading on Betfair' is available on Amazon.

About Me

WAYNE Bailey was born in Dublin where he still lives with daughter. A librarian by profession, Wayne has always had a passion for betting and trading and has spent various periods throughout his life as a professional gambler. In 2007, he graduated from University College Dublin with a degree in social science and information studies and four years later, he completed a diploma in financial trading from the Irish Institute of Financial Trading. More recently, he studied psychology and the behaviour of the human mind. Wayne is a regular contributor to various newspapers and websites in the UK and Ireland, and he currently pens the Betting Ring column which enjoys a large dedicated following every Saturday in Ireland’s largest selling newspaper The Irish Independent. Wayne's book 'Sports Trading on Betfair' was published in 2014. Email: waynebaileyracing@gmail.com